Small Business Fads That Might Be Phased Out In 2018

Working closely with fledgling small businesses over the years, it’s fair to say that we’ve seen some…well, interesting business practices. From trendy desk setups to quirky company attitudes, it’s tempting to run your company in a unique manner. However, even the coolest and most cutting-edge business ideas might actually be more antiquated than you think. If your small business is stuck in 2017, allow the small business lending experts to welcome you to 2018! Though it feels like 2017 passed in the blink of an eye, it’s important to keep up with the changing times.

A Dynamic Factoring Company For A Dynamic Industry

In the interest of keeping your company relevant and on top of things – at least according to 2018 standards – our factoring company is going to take a good look at some “hip” small business trends that are slated to die out this year. Of course, we’re not here to pass judgment on your business management style, but it is nice to keep your company in check by knowing what’s in and what’s out.

Why do we care about the latest small business trends? The Commercial Finance Group is a key player and a leader in factoring companies across the United States. Our invoice factoring experts can leverage your accounts receivable to help provide a business line of credit to finance expansions, acquire additional inventory, hire more employees, do whatever you see fit as a small business owner. To learn more about factored accounts receivable, visit here or feel free to get in touch with The Commercial Finance Group if you have any questions.

Buzzwords, Buzzwords, Buzzwords

Who doesn’t love a good buzzword? “Corporate synergy” is a cliché that instantly comes to mind. These compound words or phrases tend to make something sound smart, even if it’s chalked with ambiguous jargon. Using business-like buzzwords can help strengthen your message or your brand identity, but when used excessively or just plain incorrectly they can make your company look bad. Is it really possible that we can beat words into the ground until they’re reduced to little or no meaning? Look up the term “semantic satiation” and decide for yourself.

Here are some common buzzwords that may or may not begin to die off in 2018: pivot, lean-in, agile, unicorn, turnkey, disrupt (this resilient buzzword has actually proved to stick around, somehow), gig economy, intrapreneur, push tolerance, Millenials, and creatives. Now, you’re free to use any of these buzzwords as they pertain to your business or industry, but just make sure not to use them until they lose all meaning.

Bizzare But Meaningless Job Titles

Craft beer brewing company New Belgium Brewing may have done it first with the “Director of Fun” title – an admittedly awesome-sounding position revolving around providing interesting bathroom reading material and planning exciting company retreats – but job titles have started to get quite ridiculous in recent years. When we say that titles like “Chief Rock Star”, “Chief Jedi” and “Chief Gladiator” actually exist as legitimate job titles, we’re not joking. So, while it may have been fun and quirky to rock these position titles, the trend is already starting to get pretty stale. After all, you wouldn’t want your authority as CEO to be undermined with the title of “Galactic Space Emperor”, right?

Hot-Desking

Ah yes, there’s nothing like coming into work and finding a spot to get started on the day’s tasks…because you don’t have an assigned desk of your own. While the progressive transition away from cubicle-land to a healthier open-floor office space is good, consistency and stability are also good. Hot-desking is a workplace practice that puts the expectation on staff to find a new desk every single day, all in the name of a “dynamic” work environment. Sure, the novel idea might be fun and interesting for a few days, or maybe even a few weeks, but it’s bound to die out and result in frustrated employees.

As it turns out, employees actually rather enjoy having a fixed desk and personal belongings that remain on said desk until the employees return the next day. Who would have known that humans value familiarity?

Office Fun Police

Right off the bat, we’ll say that every employee deserves to feel comfortable and safe at their job. Without that feeling of comfort and safety, it’s difficult to be productive, let alone happy and satisfied. However, the “office police” culture of 2017 perpetuates this strict sense of employee behavior that tends to stifle creativity and office comfort, something that directly goes against what an open-floor office layout promotes. What our small business lenders are getting at here is that we hope employers lighten up a little in 2018, realizing that the fun police are actually hurting morale and productivity instead of safeguarding it. A certain amount of political correctness is completely appropriate, and really, even necessary in a professional environment. However, it’s definitely possible to take political correctness too far in the workplace.

Abusing Remote Working Privileges

The internet is just amazing, isn’t it? With the touch of a “return” key, we’re able to instantly communicate with co-workers right next to us or those thousands of miles away in another country. While working from home or even on a personal trip is convenient and certainly has its place in the small business industry, the importance of physically working next to and alongside your teammates shouldn’t be overlooked. If you pay attention throughout the course of 2018, watch as employers realize that too much remote working can hurt teamwork, morale, innovation and overall productivity. Time and time again, too many staff abuse remote working privileges and use their home-based work time to go to cafes, work out at the gym, or even do household chores rather than focus on work.

The Fear Of Automation

Throughout 2017, there were a number of stories about artificial intelligence and automated technology taking over one out of every two jobs – or, you know, robots taking over and killing us all. While both of these hypotheticals are (hopefully) extremely unlikely to occur, the truth of the matter is that society’s knee-jerk backlash against automation is, while understandable, that of fear mongering. Indeed, pay attention this year and watch the plug on all of the automation hype be pulled as more and more companies begin to realize that artificial intelligence and automation is a part of any business. Realistically, many jobs will be created in the future as new technologies continue to spawn new and innovative industries.

Make 2018 A Year Of Financial Stability For Your Small Business

If 2017 was a year of financial hardship characterized by cash flow issues for your business, The Commercial Finance Group is here to help! Backed with years of small business lending experience, we’re prepared to provide cash flow solutions via asset-based lending and factoring finance services. With ample working capital, your small business will have what it needs to succeed. Contact us today!